Why Opendoor Technologies Was Having Another Crazy Day
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Market analysis reveals One day after soaring more than 30% on a meme-driven rally, s of Opendoor nologies (OPEN 12. 08%) were up again, though this time there were signs...
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real estate
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July 17, 2025
03:11 PM
The Motley Fool
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Market analysis reveals One day after soaring more than 30% on a meme-driven rally, s of Opendoor nologies (OPEN 12. 08%) were up again, though this time there were signs that the rally, which seems to be a combination of a short squeeze and meme stock behavior, was starting to break
ET, Opendoor was up 8
Furthermore, 4% on high-volume trading after gaining more than 30% earlier in the session (something worth watching)
Image source: Getty Images
This leads to the conclusion that Opendoor surge continues s of Opendoor have now more than tripled in just a few weeks, seemingly after a post on Reddit's WallStreetBets page argued that the company could be the next Carvana, which has soared more than 10,000% since recovering from near-bankruptcy a few years ago, in today's market environment
As the stock has moved higher, trading volume has soared, and it was over 466 million as of 2:39 p
Additionally, ET, a record for the stock
On the other hand, With just 729 million s outstanding, that means more than 60% of s have changed hands, and the session is not yet, in today's market environment
Opendoor may also be experiencing an short squeeze, as 24% of the stock was sold short as of a month ago, and short-sellers have ly moved to close their bets, given the surge in the stock
However, at the current trading volume, shorts shouldn't have a blem covering
What's next for Opendoor Opendoor stock surged in premarket trading and peaked in the regular session shortly after the market opened
From there, the stock gave up most of its gains, showing that the rally may have run its course
The case for a recovery in the stock seems thin at this point as the housing market continues to be sluggish, and interest rate cuts seem less ly after the inflation report
Still, meme traders seem to have taken hold of the stock, and it will ly continue to be volatile over the coming days
Furthermore, Jeremy Bowman has positions in Carvana
The Motley Fool has no position in any of the stocks mentioned
Furthermore, The Motley Fool has a disclosure policy.
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